Analyst Downgrades: Intel , NetApp, and

Analysts downwardly revised their ratings on Intel Corporation (NASDAQ:INTC), NetApp Inc. (NASDAQ:NTAP), and International, Ltd. (ADR) (NASDAQ:CTRP)

Jun 2, 2015 at 9:43 AM
facebook twitter linkedin

Analysts are weighing in today on blue chip Intel Corporation (NASDAQ:INTC), data storage concern NetApp Inc. (NASDAQ:NTAP), and online travel firm International, Ltd. (ADR) (NASDAQ:CTRP). Here's a quick roundup of today's bearish brokerage notes on INTC, NTAP, and CTRP.

  • INTC is off 1.5% this morning at $33.41, after BMO cut the stock to "market perform" from "outperform" and lowered its price target to $33 from $40, saying it's unsure how the company's deal with Altera Corporation (NASDAQ:ALTR) creates long-term value for shareholders. Looking at the charts, Intel Corporation has added 20.8% in the past 12 months, yet option traders continue to bet against it. The stock's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio comes in at 1.23, and ranks in the 83rd percentile of its annual range. With so much skepticism priced into this outperforming stock, INTC should have no trouble finding additional buyers to maintain its positive long-term price trend.

  • Piper Jaffray lowered its price target on NTAP to $30 from $34 in response to the company's executive makeover. Most notably, NetApp Inc. announced George Kurian will be named CEO, replacing Tom Georgens. At last check, the shares were 0.08% lower at $33.13, putting them at a 20% loss for 2015. Even so, traders remain more call-skewed than normal. This is apparent from NTAP's Schaeffer's put/call open interest ratio (SOIR) of 0.57, which arrives in the bottom quartile of all readings taken over the past year.

  • CTRP has taken a fall today, giving back 7.9% at $75.17, after Qunar Cayman Islands Ltd (NASDAQ:QUNR) rejected its buyout offer. This is an unusual setback for International, Ltd., as it has outperformed the S&P 500 Index (SPX) by nearly 169 percentage points during the past three months, touching an all-time high of $87.62 in late May. This impressive technical performance has put analysts in the bullish corner, with 10 of 13 brokerage firms calling CTRP a "strong buy." However, just this morning, Stifel lowered its outlook on the shares to "hold."

If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

Common mistakes options traders make


Special Offers from Schaeffer's Trading Partners